The management of Keystone Bank Limited has appointed Hafiz Bakare as the bank’s Acting Managing Director/Chief Executive Officer.

The new appointment followed the successful conclusion of the divestment of the bank by the Asset Management Corporation of Nigeria (AMCON), which culminated in the Completion Meeting of March 23 and the formal handover of the Bank to the Sigma Golf-Riverbank Consortium.

Also appointed is Alhaji Umaru H. Modibbo as the bank’s Board Chairman. Others are Mrs. YvonneIsichei – Executive Director; Mrs. TitilayoTairat Adebiyi – Non-Executive Director and BulusBunken Dan-Habu – Non-Executive Director.

The transitional governance arrangement which will take effect from April 1, 2017 is subject to approval by the Central Bank of Nigeria (CBN).

By March 31, the current Board of the Bank (including the MD/CEO, Mr. Philip Ikeazor) would have fully disengaged, except for Mr. Bakare and Mrs. Isichei, who will continue as part of the transitional board.